Spotlight on nickel

NICKEL stocks didn’t fare too badly on the bourse despite a sharp drop in nickel prices, while a report that fanned the takeover flames of Alcan failed to spark any positive momentum in Rio Tinto and BHP Billiton, whose share prices were weighed heavily by weaker base metals prices.

Reports of Chinese stainless steel firms threatening to cut production by around 20%, the LME’s recent change in the commodity’s lending guidance, and consistent increases in its nickel stockpiles saw